Moving can already be a complex and frustrating event, but it can be further complicated by decisions made based on commonly believed myths. Here is the truth about two frequently held beliefs about moving so you can make optimal decisions about your relocation.

Liability Insurance Will Cover the Damage

Possibly the most pervasive myth is that a moving company's liability insurance will cover any damage that may occur during your move. This is only true to a certain extent.

The law requires moving companies to provide basic valuation coverage for your possessions. This type of coverage only pays up to 60 cents per pound for lost or damaged items. This means that that you may only get 60 cents—if that—for the heirloom diamond ring passed down from your grandmother that weighs around 1 to 2 ounces, for example.

It's fairly safe to assume that your possessions are worth a lot more than that. Therefore, to fully protect them, you'll need to upgrade your coverage. You have a couple of different options for this. The first is full-coverage valuation insurance that based on the individual value of each item. With this insurance, you must list everything you want to protect along with its estimated value. The moving company will then pay you the value of that specific item if it's lost or stolen.

The other insurance option is the lump sum coverage. With this insurance, you place a value on the total shipment, which is the maximum amount of money you would receive if your entire shipment was lost or damaged. Any high-value items must be declared on a separate inventory list; otherwise you might only collect up to $1,000 each for these items if they are destroyed. You must also provide a replacement value for each of the items so the company knows how much to reimburse you if something happens to the items.

Speak to a moving company representative for assistance with choosing the right insurance product for your needs.

You Can Pay the Movers after the Relocation

Another pervasive myth is that you don't have to pay the movers until they've taken your items to the new location and unloaded them from the truck. While it's true that in many service industries you don't have to pay until after the service is rendered, that's not true when it comes to moving companies.

Most companies require you to pay at least the estimated cost of the move upfront, and any additional fees assessed during the move would be due when you arrive at your destination. Other companies may be more lenient and only require half upfront and the balance upon arrival. In either case, you must be prepared to pay when the movers show up at your door to load the truck.

To avoid any financial surprises, it's essential that you hire a mover who provides a binding estimate. This type of estimate is essentially a contract that locks in the price of the move at the rate quoted. Unlike a nonbinding estimate that can change at any time, a binding estimate cannot be adjusted without your prior knowledge and agreement. This type of estimate can help you budget your money and prevent you from being surprised at the end of the move with unexpected expenses.

There are many more myths related to moving that can cause you to make poor decisions regarding your relocation. It's a good idea to speak to a moving company representative or conduct research online to get the full truth so you can accurately plan your local or long-distance move. For more information about or assistance with moving, contact a company in your area like Wheaton World Wide Moving.